Glens taxable income is $50,000 and he pays income tax of $6,864. If his income were $60,000,
Question:
Glen’s taxable income is $50,000 and he pays income tax of $6,864. If his income were $60,000, he would pay taxes of $9,064. What is Glen’s marginal tax rate?
a. 18.23%
b. 22.00%
c. 12.00%
d. 25.00%
e. Some other amount
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Related Book For
Income Tax Fundamentals 2020
ISBN: 9780357108239
38th Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill
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